Portland Real Estate Market News

Portland Real Estate Market

Our local Portland real estate market is always changing. It takes a very busy real estate agent, top 1% in Portland, to keep a finger on its pulse. We write Portland housing market forecasts twice a year, an annual best month of the year to sell or buy a home article, population growth articles, Portland development articles, articles on real estate market trends, housing affordability, articles on Realtors themselves, and much more. Enjoy!

real estate scams

Be Aware of Real Estate Scams in Portland

July 17, 2013

You’re behind on your mortgage payments and the bank is threatening to foreclose. Then you receive an offer from someone claiming to be from a credit agency. They say they can sell your home, saving your credit and your peace of mind. Can you believe them? Of course not. Unfortunately, that call is not so easy to make when you’re the person with the huge mortgage and the tempting offer on your plate. This kind of enticement has sent homeowners in Portland and across the country into their worst fraud nightmares, costing them money, ruining their credit and deflating home values across neighborhoods. With underwater mortgages and financial troubles for homeowners in every income bracket, scam artists have come up...


portland short sale

Has Fannie Mae Solved the Short Sale Maze?

June 16, 2013

As many in Portland have already experienced, buying or selling a home through the short sale process can be a bit of a maze. Although short sales are an invaluable tool for underwater home owners, many offers fall through because one or more parties can’t agree to terms in the agreement. For home owners, the short sale process begins when the lender agrees to sell the home for less than the amount owed on the mortgage. Then the home seller can work with their short sale real estate agent to list the home and find a potential buyer. From there, sellers’ and buyers’ agents negotiate with the various lending institutions, lien holders and other parties. If the maze is negotiated...


real estate market

April 2013 Portland Market Action Report: A great time to sell!

May 31, 2013

The Oregonian reports this months that Portland home sellers are throwing out their to-do lists and selling their homes as-is, in response to low inventory and rising home prices. Meanwhile, Portland real estate agents are having to look high and low for properties that meet their buyers’ needs. There’s no doubt that April was a fantastic month for Portland real estate buyers, sellers and real estate agents. According to the latest Market Action report from the RMLS, 3,623 new listings came on the market in the Portland area in April. That’s more than in any single month since August 2010. Even though the average sales price for a Portland home is up about 10% this year, buyers are not hesitating...


portland housing inventory

Portland Housing Inventory is at Record Lows 2013

April 24, 2013

Can’t find a home? You’re not alone. Believe it or not, there are half as many (about 6,000) homes for sale in Portland this spring of 2013 verses the Portland housing inventory in spring 2011 (about 12,000 homes for sale). Multiple offers are becoming the norm in hot areas for any home that is priced at previous market prices. Across the board, homes are selling faster and for more in Portland. Now more than ever, you need a great Portland listing agent that can maximize the multiple offer situation or a Portland buyer’s agent who knows how to win in a multiple offer situation. Why are we seeing record low inventory in Portland? 1. Home builders in Portland have been...


portland real estate market

A Busy 2013 Spring for Portland Real Estate Agents

April 1, 2013

U.S. home sales are at three-year high, according an Associated Press story this week. Are Portland home sales following the nationwide trend? Judging from the February RMLS Report on the Portland real estate market that also came out this week, it looks like we’re on track to have a very fast-past year, indeed. Market inventory stands at 4.5 months, lower than the February inventory for the previous two years. Pending Portland real estate sales in February increased by 11.8% over last month. The RMLS reports that this is the best February for Portland pending sales since 2007. What does all this mean? Portland real estate agents are busy, and it’s a good time to be a home buyer or a...


portland real estate market

Portland Real Estate Market Heading Up

January 2, 2013

The Portland real estate market is likely on an upswing, according to Lawrence Yun, chief economist of the National Association of Realtors and others who presented at the 2012 Realtors Conference and Expo. This is welcome news to nearly everyone involved in the real estate industry. As long as lenders are able to continue to lend, real estate market trends are almost all positive in the next few years, according to Yun. From inflation, to interest rates, to reconstruction, construction, fewer foreclosures on the market and pent-up demand for new homes, Yun touches on several areas that all point toward a positive next several years in real estate market trends. Because of these trends, rises in home sales are forecast...


top portland neighborhoods

Top Portland Neighborhoods for 2013 (part 1)

December 26, 2012

With 95 neighborhoods, the city of Portland has a place for everyone – seniors, families, first-time home buyers, and anyone looking for the convenience of urban life with the safety and familiarity of a good neighborhood. In 2012, we saw the Portland real estate market begin to pick up again, making 2013 the perfect year to invest in a home. Foreclosed properties and short sales continue to come on the market, and the savvy buyer might just find a screaming deal this year. Where are the great properties? All over the Portland, area, really. Young professionals continue to flood into the Pearl district and are starting to move into new developments in the south Waterfront and in North Portland. Southeast...


real estate inventory

Taking Inventory of the Portland Real Estate Market

December 3, 2012

The real estate industry keeps track of how it’s doing in funny ways. Mortgages are always going above or below water, but they never seem to get soggy. The real estate blogs are constantly searching for the mysterious “bottom of the market” (it must be down here somewhere!) Then there are the economic factors we like to pay attention to, the bulls and bears and consumer confidence indexes. Inventory is one of those head-scratchers in the real estate biz. To give an estimate of how the market is doing, it measures something that would never actually happen: Every homeowner decides they never want to move again and no new homes come on the market. In that case, how long would...


real estate maeket

Strong August Real Estate Numbers for Portland, U.S.

September 25, 2012

August’s home sales in the Portland area were the strongest in five years, according the Market Action report published by the RMLS last week. Home prices are also on the rise in Portland and across the US, a piece of good news that prompted coverage by the Associated Press and the Oregonian and gave hope to underwater mortgage holders. Does this month indicate that the housing market will soon recover to pre-recession levels? Nobody knows, but a closer look at the numbers will help Portland home buyers and sellers decide what their next steps will be. Last month, 2,311 homes were sold in the Portland metro area, which is a new record since 2007, before the housing market fell. High...


rent or own portland

Buy vs. Rent in Portland, How Long to Break Even?

August 7, 2012

According to a recent Zillow report the average time it takes to break even buying a home verses renting a home in the Portland metro area is 3.5 years. Depending on the neighborhood, it could take as long as 5 years or as short as 1.5 years. Ask your Portland Real Estate Agent which Portland neighborhood will give you a quicker return. Zillow took into account all the costs of renting including utilities and deposits and contrasted that with the costs of Portland homeownership including down payment, taxes, maintenance, utilities and more. Zillow also adjusted for future rent increases and future Portland home valuations. To summarize, it is a great financial idea to buy a Portland home if you are...